economic absurdities...

[John Larkin]

https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.


--

If a man will begin with certainties, he shall end with doubts,
but if he will be content to begin with doubts he shall end in certainties.
Francis Bacon

 

[Ed Lee]

On Thursday, December 23, 2021 at 11:08:13 AM UTC-8, John Larkin wrote:

https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.

OTOH, Turkey (true to it\'s name) lowers interest rate to fight inflation. What gives?

 

[bitrex]

On 12/23/2021 2:08 PM, John Larkin wrote:

https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.

Ha ha ha the end of \"easy money.\" Can\'t say I\'ve ever come by much \"easy
money\" recently, I\'m only working harder for it as of late matter-of-fact.

Austerity is always for you, it\'s never for \"them.\" I can see how some
get the Democrats confused with communists because they do love
themselves a state-sponsored enterprise.

I Wonder how many newly-minted trillionaires there will need to be, and
how often in the future the DOD yearly budget goes over a trillion
bucks, before working Americans come around to the idea that sad little
$1200 stimulus checks and child tax credits for them isn\'t the big idea
behind who all the money-printing is intended to benefit.

 

[bitrex]

On 12/23/2021 2:15 PM, Ed Lee wrote:

On Thursday, December 23, 2021 at 11:08:13 AM UTC-8, John Larkin wrote:
https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.

OTOH, Turkey (true to it\'s name) lowers interest rate to fight inflation. What gives?

Economists tend to figure inflation is primarily a sign of excessive
aggregate spending, not excessive government spending in isolation.

IIRC Turkey is in a stagflation situation.

 

[bitrex]

On 12/23/2021 4:32 PM, Ed Lee wrote:

On Thursday, December 23, 2021 at 1:11:11 PM UTC-8, bitrex wrote:
On 12/23/2021 2:15 PM, Ed Lee wrote:
On Thursday, December 23, 2021 at 11:08:13 AM UTC-8, John Larkin wrote:
https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.

OTOH, Turkey (true to it\'s name) lowers interest rate to fight inflation. What gives?
Economists tend to figure inflation is primarily a sign of excessive
aggregate spending, not excessive government spending in isolation.

IIRC Turkey is in a stagflation situation.

https://www.cnbc.com/2021/12/16/turkish-central-bank-cuts-rates-sending-lira-to-record-low.html

\"Investors and economists have been desperately calling for Erdogan to reverse course, but he’s so far stuck to his unusual conviction that higher rates worsen inflation, rather than cooling it, as is the widely accepted economic principle.\"

Erdoganomic: high interest rate is driving inflation. So, they cut interest rate from 15% to 14%. And increase wages to make everybody happy.

He\'s a populist tyrant of the type the US finds useful from time to
time, as opposed to the type of populist who tends to pop up in e.g.
Venezuela whom the US tends to not find useful.

Now that his usefulness is in decline he\'s maybe trying by any means
necessary to avoid the fate of other populist nationalists in the
developing world whose usefulness to the US has run its course; economic
collapse followed by austerity measures from the World Bank and IMF etc.
slamming the population further into poverty causing said tyrant to be
deposed and thereby prime properties and business interests in said
country becoming available for appropriation and privatization by
globalist oligarchs for pennies on the dollar.

The all-important economists and international investors will once again
be satisfied, \"democracy\" will be restored, and what happens to the
destitute population immaterial. Seems unlikely he\'ll be successful in
the long run at preventing this outcome.

 

[Anthony William Sloman]

On Friday, December 24, 2021 at 6:08:13 AM UTC+11, John Larkin wrote:

https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of economies, and especially not economists.

John Larkin doesn\'t know anything about economics, and likes to see this as a virtue.

It isn\'t. Claiming that other people don\'t know anything about economics is a way of comforting himself about his own inadequacies.

He wants all the flattery he can get, and has to supply a lot of it himself.

--
Bill Sloman, Sydney

 

[Sylvia Else]

On 24-Dec-21 6:15 am, Ed Lee wrote:

On Thursday, December 23, 2021 at 11:08:13 AM UTC-8, John Larkin wrote:
https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.

OTOH, Turkey (true to it\'s name) lowers interest rate to fight inflation. What gives?

Turkey\'s government hasn\'t got a clue.

Sylvia.

 

[whit3rd]

On Thursday, December 23, 2021 at 11:08:13 AM UTC-8, John Larkin wrote:

https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.

There\'s nothing in that article to support that idea.
The worst of past economic upheavals were the ones handled by
laissez-faire principles; that\'s what \'nobody in charge\' means,
and it\'s a known way to fail.

 

[Jan Panteltje]

On a sunny day (Thu, 23 Dec 2021 11:08:03 -0800) it happened John Larkin
<jlarkin@highland_atwork_technology.com> wrote in
<m4i9sglh469f6k3v7fdu7mard411k7ne1d@4ax.com>:

https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.

https://goldprice.org/nl/gold-price-charts/20-year-gold-price-history-in-us-dollars-per-ounce

Its heavy, I know

 

[server]

On Fri, 24 Dec 2021 00:18:01 -0800 (PST), whit3rd <whit3rd@gmail.com>
wrote:

On Thursday, December 23, 2021 at 11:08:13 AM UTC-8, John Larkin wrote:
https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.

There\'s nothing in that article to support that idea.

True, if you don\'t think about it.

The worst of past economic upheavals were the ones handled by
laissez-faire principles; that\'s what \'nobody in charge\' means,
and it\'s a known way to fail.

Some modest rules-of-the-game are stabilizing. Government regulator
economists buying and selling trillions in assets, forcing interest
rates, playing at being the superstars of civilization, are
destabilizing.

Zero interst rates have interesting side effects. Own land. Even that
is tricky nowadays.





--

I yam what I yam - Popeye

 

[server]

On Fri, 24 Dec 2021 09:03:57 GMT, Jan Panteltje
<pNaOnStPeAlMtje@yahoo.com> wrote:

On a sunny day (Thu, 23 Dec 2021 11:08:03 -0800) it happened John Larkin
jlarkin@highland_atwork_technology.com> wrote in
m4i9sglh469f6k3v7fdu7mard411k7ne1d@4ax.com>:

https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.


https://goldprice.org/nl/gold-price-charts/20-year-gold-price-history-in-us-dollars-per-ounce

Its heavy, I know

Why is that chart not euros per kilogram?

Zero interest rates almost force politicians to borrow without limit.
It\'s free money. There\'s no easy way down; the regulators are too
afraid of being blamed for the next stock market crash, which they
should be blamed for.

Economic regulators seem to control bang-bang-rail-to-rail, too much
too late. No derivative terms.



--

I yam what I yam - Popeye

 

[Anthony William Sloman]

On Saturday, December 25, 2021 at 1:01:23 AM UTC+11, jla...@highlandsniptechnology.com wrote:

On Fri, 24 Dec 2021 00:18:01 -0800 (PST), whit3rd <whi...@gmail.com
wrote:
On Thursday, December 23, 2021 at 11:08:13 AM UTC-8, John Larkin wrote:
https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.

There\'s nothing in that article to support that idea.

True, if you don\'t think about it.

And John Larkin does a lot of non-thinking.

The worst of past economic upheavals were the ones handled by
laissez-faire principles; that\'s what \'nobody in charge\' means,
and it\'s a known way to fail.

Some modest rules-of-the-game are stabilizing. Government regulator
economists buying and selling trillions in assets, forcing interest
rates, playing at being the superstars of civilization, are
destabilizing.

In John Larkin\'s ever-so-expert opinion.

> Zero interest rates have interesting side effects. Own land. Even that is tricky nowadays.

It always was. Originally, owning land came with an obligation to defend it. Feudal land-owners had an obligation to keep a number of their tenants armed and trained so that they were available to be marched off to defend other people\'s land if invaders showed up. That\'s now covered by income tax, and conscription, but the underlying obligation is still there.

--
Bill Sloman, Sydney

 

[Anthony William Sloman]

On Saturday, December 25, 2021 at 1:08:56 AM UTC+11, jla...@highlandsniptechnology.com wrote:

On Fri, 24 Dec 2021 09:03:57 GMT, Jan Panteltje
pNaOnSt...@yahoo.com> wrote:

On a sunny day (Thu, 23 Dec 2021 11:08:03 -0800) it happened John Larkin
jlarkin@highland_atwork_technology.com> wrote in
m4i9sglh469f6k3v7...@4ax.com>:

https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.

https://goldprice.org/nl/gold-price-charts/20-year-gold-price-history-in-us-dollars-per-ounce

Its heavy, I know

Why is that chart not euros per kilogram?

Because Jan Panteltje chose the units that Americans would understand. The web-site offers a whole range of currencies and several different weight units.

> Zero interest rates almost force politicians to borrow without limit.

They do make it easy, but there\'s no force involved.

> It\'s free money. There\'s no easy way down; the regulators are too afraid of being blamed for the next stock market crash, which they should be blamed for.

There\'s a perfectly easy way down - as the economy recovers, prices start going up, and the interests can be adjusted back up to limit the money supply to the level that the economy needs to keep running with minimal inflation. It\'s part of the Keynesian prescription. People who prefer their economic theories to be mathematically tractable, rather than predictive, don\'t have a clue what\'s going on. James Arthur seems to be one of them.

> Economic regulators seem to control bang-bang-rail-to-rail, too much too late. No derivative terms.

It\'s a non-linear system. Sentiment and business confidence are important, and hard to measure accurately. If you insist that the market is omniscient and totally rational (which is what you need to make your models mathematically tractable), you don\'t even try.

--
Bill Sloman, Sydney

 

[amdx]

On 12/23/2021 1:08 PM, John Larkin wrote:

https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.

Smart economists would have had our debt refinanced with 50 year bonds
at lower interest rates several years ago.

Mikek


--
This email has been checked for viruses by Avast antivirus software.
https://www.avast.com/antivirus

 

[Jan Panteltje]

On a sunny day (Fri, 24 Dec 2021 06:08:43 -0800) it happened
jlarkin@highlandsniptechnology.com wrote in
<aokbsghffsd0m8jqtl7r1jdaklc8h50mcu@4ax.com>:

On Fri, 24 Dec 2021 09:03:57 GMT, Jan Panteltje
pNaOnStPeAlMtje@yahoo.com> wrote:

On a sunny day (Thu, 23 Dec 2021 11:08:03 -0800) it happened John Larkin
jlarkin@highland_atwork_technology.com> wrote in
m4i9sglh469f6k3v7fdu7mard411k7ne1d@4ax.com>:

https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.


https://goldprice.org/nl/gold-price-charts/20-year-gold-price-history-in-us-dollars-per-ounce

Its heavy, I know

Why is that chart not euros per kilogram?

Yea, you got a point there, I was reading UK, now it left the EU, is back to pints again:
https://www.rt.com/news/544290-britain-pint-wine-bottle-brexit/

Zero interest rates almost force politicians to borrow without limit.
It\'s free money. There\'s no easy way down; the regulators are too
afraid of being blamed for the next stock market crash, which they
should be blamed for.

Nixon disconnected the dollar from gold....
US dollar has been losing value ever since (was the reason he disconnected it I think).

Economic regulators seem to control bang-bang-rail-to-rail, too much
too late. No derivative terms.

With the amount of debt US is accumulating, more ever few years, your chocolates will be become very expensive.
When other countries no longer want to buy US debt US will try to rob them by war.
Now that everybody and their cat has nukes a nuculear war is not far away.

Precedent ByeThen is now trying to create a war in Europe in Ukrain, like that other deamoncrate Bill Clignon did
to destabilize the EU (Trump got UK to leave it via his clown boris) and decrease the strength of the Euro
to prevent it from becoming a dollar replacement.

Gold has been solid through the ages.

 

[server]

On Fri, 24 Dec 2021 15:17:28 GMT, Jan Panteltje
<pNaOnStPeAlMtje@yahoo.com> wrote:

On a sunny day (Fri, 24 Dec 2021 06:08:43 -0800) it happened
jlarkin@highlandsniptechnology.com wrote in
aokbsghffsd0m8jqtl7r1jdaklc8h50mcu@4ax.com>:

On Fri, 24 Dec 2021 09:03:57 GMT, Jan Panteltje
pNaOnStPeAlMtje@yahoo.com> wrote:

On a sunny day (Thu, 23 Dec 2021 11:08:03 -0800) it happened John Larkin
jlarkin@highland_atwork_technology.com> wrote in
m4i9sglh469f6k3v7fdu7mard411k7ne1d@4ax.com>:

https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.


https://goldprice.org/nl/gold-price-charts/20-year-gold-price-history-in-us-dollars-per-ounce

Its heavy, I know

Why is that chart not euros per kilogram?

Yea, you got a point there, I was reading UK, now it left the EU, is back to pints again:
https://www.rt.com/news/544290-britain-pint-wine-bottle-brexit/


Zero interest rates almost force politicians to borrow without limit.
It\'s free money. There\'s no easy way down; the regulators are too
afraid of being blamed for the next stock market crash, which they
should be blamed for.

Nixon disconnected the dollar from gold....
US dollar has been losing value ever since (was the reason he disconnected it I think).

In the last 10 years, the dollar has gained on the euro, the pound,
and the yen.

Didn\'t the pound used to cost $5? It\'s $1.36 now.

Economic regulators seem to control bang-bang-rail-to-rail, too much
too late. No derivative terms.

With the amount of debt US is accumulating, more ever few years, your chocolates will be become very expensive.
When other countries no longer want to buy US debt US will try to rob them by war.

No, inflation will do.



--

I yam what I yam - Popeye

 

[Jan Panteltje]

On a sunny day (Fri, 24 Dec 2021 08:17:17 -0800) it happened
jlarkin@highlandsniptechnology.com wrote in
<3erbsg18oo524e3k7sji0saaeeeagk1m02@4ax.com>:

On Fri, 24 Dec 2021 15:17:28 GMT, Jan Panteltje
pNaOnStPeAlMtje@yahoo.com> wrote:

On a sunny day (Fri, 24 Dec 2021 06:08:43 -0800) it happened
jlarkin@highlandsniptechnology.com wrote in
aokbsghffsd0m8jqtl7r1jdaklc8h50mcu@4ax.com>:

On Fri, 24 Dec 2021 09:03:57 GMT, Jan Panteltje
pNaOnStPeAlMtje@yahoo.com> wrote:

On a sunny day (Thu, 23 Dec 2021 11:08:03 -0800) it happened John Larkin
jlarkin@highland_atwork_technology.com> wrote in
m4i9sglh469f6k3v7fdu7mard411k7ne1d@4ax.com>:

https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.


https://goldprice.org/nl/gold-price-charts/20-year-gold-price-history-in-us-dollars-per-ounce

Its heavy, I know

Why is that chart not euros per kilogram?

Yea, you got a point there, I was reading UK, now it left the EU, is back to pints again:
https://www.rt.com/news/544290-britain-pint-wine-bottle-brexit/


Zero interest rates almost force politicians to borrow without limit.
It\'s free money. There\'s no easy way down; the regulators are too
afraid of being blamed for the next stock market crash, which they
should be blamed for.

Nixon disconnected the dollar from gold....
US dollar has been losing value ever since (was the reason he disconnected it I think).

In the last 10 years, the dollar has gained on the euro, the pound,
and the yen.

Inteh beginning it varied wildly, sort of stable now:
https://www.macrotrends.net/2548/euro-dollar-exchange-rate-historical-chart


>Didn\'t the pound used to cost $5? It\'s $1.36 now.

UK has also massive inflation
But check everything against the goldprice / standard.

Before WW2 in Germany there was HUGE inflation
history has this habit of repeating itself:
https://en.wikipedia.org/wiki/Deutsche_Mark
scroll down to 1873-1948

If we look at the USD in the same way, then war is coming,
US is just printing paper no end these days,
ByeThen wants to print a few billion more.
If his printing fails he will start a war,

Actually I did see an interview with ByeThen on CNN and now I also believe he has a memory problem
he could not remember the difference between pills and vaccines for 3 minutes.
His facial expression looked totally stressed, never seen anything like that.

If he dies and Kamality Harris takes over ... hide under bed??

Economic regulators seem to control bang-bang-rail-to-rail, too much
too late. No derivative terms.

With the amount of debt US is accumulating, more ever few years, your chocolates will be become very expensive.
When other countries no longer want to buy US debt US will try to rob them by war.

No, inflation will do.

I have and did read George Soros\' book \'The Alchemy of Finance\', it is a lot about politics,
and he also writes \'the market is always wrong\'.

You can inflate the debt away perhaps, but where does that leave your people?
Lots of stuff comes from China and other countries.
Revolution, states falling apart perhaps.

War is coming.

 

[whit3rd]

On Friday, December 24, 2021 at 6:01:23 AM UTC-8, jla...@highlandsniptechnology.com wrote:

On Fri, 24 Dec 2021 00:18:01 -0800 (PST), whit3rd <whi...@gmail.com
wrote:

The worst of past economic upheavals were the ones handled by
laissez-faire principles; that\'s what \'nobody in charge\' means,
and it\'s a known way to fail.

Some modest rules-of-the-game are stabilizing. Government regulator
economists buying and selling trillions in assets, forcing interest
rates, playing at being the superstars of civilization, are
destabilizing.

Does \'destabilizing\' mean bad? The massive WWII spending and
the subsequent 50s-era boom were the end of the great depression.
Stability would have just continued the depression.

When has a \'regulator economist\' ever bought trillions in assets?

Poseurs in power are a problem, of course; I thought you liked
those, though, from your comments on the Donald.
He disliked the look of a mask... that\'s how image-conscious
and consequence-oblivious poseurs act. That lack
of the virtues of wisdom, temperance, fortitude is what made him (IMHO) such
a weak leader. His pardons of cronies and firings of
inspectors general (etc.) were his display of injustice,
thus covering all four cardinal virtues.

 

[whit3rd]

On Friday, December 24, 2021 at 7:16:17 AM UTC-8, amdx wrote:

On 12/23/2021 1:08 PM, John Larkin wrote:
https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.

Smart economists would have had our debt refinanced with 50 year bonds
at lower interest rates several years ago.

Huh? Bonds at low interest for 50 years would have looked good to
investors WHEN, exactly? Bonds don\'t issue until someone buys in, you know.

 

[bitrex]

On 12/24/2021 11:17 AM, jlarkin@highlandsniptechnology.com wrote:

On Fri, 24 Dec 2021 15:17:28 GMT, Jan Panteltje
pNaOnStPeAlMtje@yahoo.com> wrote:

On a sunny day (Fri, 24 Dec 2021 06:08:43 -0800) it happened
jlarkin@highlandsniptechnology.com wrote in
aokbsghffsd0m8jqtl7r1jdaklc8h50mcu@4ax.com>:

On Fri, 24 Dec 2021 09:03:57 GMT, Jan Panteltje
pNaOnStPeAlMtje@yahoo.com> wrote:

On a sunny day (Thu, 23 Dec 2021 11:08:03 -0800) it happened John Larkin
jlarkin@highland_atwork_technology.com> wrote in
m4i9sglh469f6k3v7fdu7mard411k7ne1d@4ax.com>:

https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

This mess reinforces my contention that nobody should be in charge of
economies, and especially not economists.


https://goldprice.org/nl/gold-price-charts/20-year-gold-price-history-in-us-dollars-per-ounce

Its heavy, I know

Why is that chart not euros per kilogram?

Yea, you got a point there, I was reading UK, now it left the EU, is back to pints again:
https://www.rt.com/news/544290-britain-pint-wine-bottle-brexit/


Zero interest rates almost force politicians to borrow without limit.
It\'s free money. There\'s no easy way down; the regulators are too
afraid of being blamed for the next stock market crash, which they
should be blamed for.

Nixon disconnected the dollar from gold....
US dollar has been losing value ever since (was the reason he disconnected it I think).

In the last 10 years, the dollar has gained on the euro, the pound,
and the yen.

Didn\'t the pound used to cost $5? It\'s $1.36 now.




Economic regulators seem to control bang-bang-rail-to-rail, too much
too late. No derivative terms.

With the amount of debt US is accumulating, more ever few years, your chocolates will be become very expensive.
When other countries no longer want to buy US debt US will try to rob them by war.

No, inflation will do.

Economists can\'t agree on why large amounts of debt is bad in the first
place, other than that it could cause a panic or destabilize the economy.

But also economist John Stuart Mills wrote:

\"Panics do not destroy capital; they merely reveal the extent to which
it has been previously destroyed by its betrayal into hopelessly
unproductive works.\"

Inflation is believed to be related to aggregate spending and what it\'s
spent on, not government spending in isolation, and the aggregate
spending of America\'s wealthiest corporations and its wealthiest
citizens in large part tends to be hopelessly unproductive speculatory
wanking, and the aggregate spending of the US government tends to be in
large part hopelessly unproductive assessment of military hardware and
regular doomed foreign adventures to give it a reason for existing.